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Telefónica, Repsol YPF and Gas Natural, three of the Spanish multinationals with the largest presence in Latin America, believe that the region has a solid economy and development potential in the energy and telecommunications sectors. The statements were made by their respective chairmen at the 11th Latibex Forum, organized by Bolsas y Mercados Españoles, which brought together more than 60 business leaders and managers from Spain and Latin America in Madrid over the course of three days.
However, the executives also used the occasion to comment on other areas. In the case of Gas Natural, its chairman, Salvador Gabarró, asked Latin American governments to create “clear, stable and reliable” energy regulations that would encourage the significant long-term investment required to develop the sector’s infrastructures.
Antonio Brufau, chairman of Repsol, said that the crisis should act as a “wake-up call” to Latin American governments to try to improve their human capital through education and to modernize the tax administration to bring it in line with OECD standards.
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11/19/09
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